Information on four investment proposals is given below: Investment Proposal Investment required Present value of cash inflows Net present value Life of the project $ (120,000) $(50,000) $(50,000) $(360,000) 169,200 67, 300 79,000 476,000 $ 49,200 $ 17,300 $ 29,000 $ 116,000 5 years7 years 6 years 6 years Required: 1. Compute the project profitability index for each investment proposal. (Round your answers to 2 decimal places.) 2. Rank the proposals in terms of preference. Investment Profitability Preference Rank Proposal Index